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Wen says China still can meet growth target

Joe McDonald, Associated Press
August 16, 2012
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China's premier says the country should meet this year's economic targets but is warning hardship could continue for some time and trade conditions will be grim.
 
During a visit Wednesday to eastern China, Premier Wen Jiabao cited a small improvement in industrial output and said employment is stable, the official Xinhua News Agency said.
 
The report gave no direct indication whether Beijing might be considering more interest rate cuts or other stimulus measures to boost growth that slumped to a three-year low of 7.6 percent in the quarter ending in June. That is relatively robust compared with the United States, Europe and Japan but has hurt Chinese companies that depend on higher growth to drive sales.
 
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